The IBEX climbed back to the 11,000-point level after last week's setback, on a day when the focus will be on a couple of key data and comments from Federal Reserve officials to try to guess possible changes in the timing of interest rate cuts.

Traders will be awaiting the US retail sales report and the final Eurozone May year-on-year CPI data.

At least six Fed policymakers are scheduled to meet on Tuesday, so they could give more clues about future rate cuts, after last week they held rates steady and anticipated a single cut in 2024.

Philadelphia Fed President Patrick Harker revealed on Monday that while he favors a single cut this year for now, he was willing to change his mind if the data pointed in the other direction.

In fact, based on information from Bloomberg, analysts at Santander Bank highlighted on their Telegram channel that Goldman Sachs anticipates "an inflection point" in the U.S. labor market and that they believe its robustness is uncertain. According to the information, Goldman Sachs expects two rate cuts by the Fed this year.

On the other hand, the uncertainty hanging over Europe eased somewhat after Le Pen signaled in an interview in Le Figaro on Sunday that she has no intention of implementing extreme fiscal policies if she comes to power and that she is not pushing for Macron's ouster.

At 0708 GMT on Tuesday, Spain's selective IBEX 35 stock index was up 48.20 points, 0.44%, to 11,007.70 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.56%.

In the banking sector, Santander rose 0.91%, BBVA gained 1.63%, Caixabank advanced 1.36%, Sabadell gained 1.74%, Bankinter gained 0.89%, and Unicaja Banco rose 1.45%.

Among the large non-financial stocks, Telefónica fell 3.32%, Inditex advanced 0.13%, Iberdrola dropped 0.04%, Cellnex gained 0.35%, and the oil company Repsol rose 1.05%.

(Information by Javi West Larrañaga; edited by Benjamín Mejías Valencia).